ImmunoGen (IMGN) Shares are Up 1.29%

ImmunoGen (IMGN) : Traders are bullish on ImmunoGen (IMGN) as it has outperformed the S&P 500 by a wide margin of 12.97% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.23%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.29% in the last 1 week, and is up 14.13% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 8.34% and the 50-Day Moving Average is 8.05%. ImmunoGen (NASDAQ:IMGN): stock turned positive on Friday. Though the stock opened at $2.98, the bulls momentum made the stock top out at $3.15 level for the day. The stock recorded a low of $2.96 and closed the trading day at $3.15, in the green by 5.35%. The total traded volume for the day was 979,542. The stock had closed at $2.99 in the previous days trading.


The company Insiders own 4.2% of ImmunoGen shares according to the proxy statements. Institutional Investors own 86.6% of ImmunoGen shares. Also, Equity analysts at the Brokerage firm Jefferies maintains its rating on ImmunoGen (NASDAQ:IMGN). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Jefferies lowers the price target from $13 per share to $6 per share. The rating by the firm was issued on August 5, 2016.

ImmunoGen, Inc. (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Companys clinical and preclinical product candidates are antibody-drug conjugates (ADCs), which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells. The Company has three clinical-stage anticancer compounds: mirvetuximab soravtansine (IMGN853), coltuximab ravtansine, IMGN529, and IMGN779. The Companys partners are Amgen Inc., Bayer HealthCare (a subgroup of Bayer AG), Biotest AG, Eli Lilly and Company (Lilly), Novartis Institutes for BioMedical Research, Inc. (Novartis), the Roche Group, Sanofi and Takeda. The Companys collaborative partner compounds include Kadcyla, Indatuximab ravtansine, Isatuximab, Anetumumab ravtansine, AMG 595, AMG 172, SAR566658, SAR408701, LOP628 and PCA062. All of the Companys compounds are ADCs with the exception of isatuximab, which is a therapeutic antibody.

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